April 11, 2024
Noah Lack
In January of 2021, I picked up a microphone, pressed record on Zoom, and had a conversation with my friend Galen Robinson on running his fashion company Substantial while playing professional basketball (get your merch).
Over three years later, I’ve quietly chatted about business with 100s of the top athletes in the world who you’ve watched in the NBA, NFL, MLB, WNBA, NWSL, Olympics, and more. 100 episodes are free to listen to online.
The way athletes open up to me is special and allows me a unique vantage point. I felt like this milestone is cause for reflection on what I’ve learned, because much has changed over the years.
It used to be taboo to talk about off the field interests.
5-10 years ago, athletes would have been reluctant to come on my podcast because decision makers would perceive them as not “focused”, “they’re too worried about other things”.
Now, it’s en vogue. It’s not only accepted but since the pandemic, social justice issues, CBAs, and the legalization of NIL, it’s been glorified. It’s cool to talk business as an athlete now.
The athlete-entrepreneur, regardless of industry is erupting. We know many former collegiate athletes are known to succeed in the corporate world and thrive in the C-suite of large companies. But the pandemic gave active athletes TIME…
There is more risk takers, more builders, and more belief that despite a non-traditional business background they can build a viable business.
Some have lots of money they made during their careers and have their internal teams to do most of the legwork while they fill in the gaps. Others didn’t make a lot of money and have begun another career of incredible sacrifice to get their company off the ground.
Despite different scenarios it still sets up lesson #3… which is the coolest in my opinion.
I had no idea in 2021, but I realize now more than ever that entrepreneurship is the great equalizer.
It does not matter how many points you averaged, how many instagram followers you have, you still have worry address running a team, competitors, banking, legal, tax, and most importantly building something your customers want.
This is tricky for many famous athletes. They’re blinded from reality! Their fame and likeness alone cannot build a great business.
I see this almost weekly. We didn’t spend time chasing internships and mingling with investors during our college career. We were in the gym…
Speaking from experience, it takes time to build an authentic network. If you don’t have a software engineering background, don’t have warm intros, and are a first time entrepreneur, it can be a struggle raise from angels and VCs.
Plus, there’s still the “dumb jock stigma” athletes have to shake off.
If you’re over 40 years old this should make you cringe. I know, I know, business school.
Over the next decade less ex-athletes will get MBAs. If they continue getting paid this much money in college, they will be forced to learn about financial literacy, taxes, marketing, and management in undergrad. Faster than you did, and you paid $100,000 for it. They are getting paid $200,000+ to learn…
Crazy world we live in eh?
Thank you to everyone who has supported me along this journey. I get emotional writing about this because this is me in a nutshell. I was an athlete, by career abruptly ended, and I had to figure life out. It sucked. This is the way I’ve coped with it.
This has always been a passion project, but without the support of friends, family, and colleagues, I could not have taken the next step. So again, thank you.
If you’re an athlete building something cool, no matter what it is, please reach out to me and say hello at noah@athletesandassets.com.
You are insane at this point if you haven’t…
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